Bad Credit Loans: 2009

Friday, February 6, 2009

Student Checking

Student checking is one of the forms of checking accounts. It is a checking account exclusively created to meet the unique needs of students, designed to make banking affordable and convenient for busy students with easy account access, no minimum balance, and no monthly service fee. It is a free checking account that offers students convenience and cost-savings. There are many financial institutions that offer special checking deals if you are a student. The perks vary from bank to bank, but may include freebies on checks, cashiers and traveler’s checks, ATM use, better rates on loans and credit cards, or discounts on everything from travel to prescriptions.Keeping the “on-the-go” student in mind, to give them all the value and convenience they need, student focused accounts are offered that makes it easier to manage college finances. During business hours your busy schedule may make getting to the bank difficult. That’s a student checking account should be created to meet the needs.

Frequently Asked Questions about Repairing Bad Credit

Can we erase bad credit?Yes. Erasing or repairing bad credit may seem like an insurmountable task, but it is possible. Some people say that only time and patience will repair bad credit and this is true to a certain extent, but there are things that you can do to “speed up” the process.Can we erase bad credit legally?Yes. In fact there are law firms that specialize in repairing bad credit.Can we erase bad credit if we have had negative items reported to the credit bureaus?Yes. Repairing bad credit is mostly concerned with removing negative items from your credit reports.Can we get a credit card before we erase bad credit?Yes. You can get a credit card before repairing bad credit, but you will pay higher interest rates and fees. If your credit scores are really low, you may only be able to qualify for a secured credit card. A secured credit card is one that requires you to make a deposit into a savings account and your credit limit is equal to the balance in the savings account. If you are successful at repairing bad credit, you will probably be surprised at the credit card offers you will receive.Can we get a home loan before we erase bad credit?You can probably qualify for a home loan with bad credit, but you will pay hundreds of dollars more per month than someone with good credit. So, the question you might want to ask instead is; should we get a home loan before we erase bad credit. Repairing bad credit will save you money in the long run, even if you are unable to do it yourself. The cost of hiring a law firm that specializes in repairing bad credit is small compared to the additional interest people with bad credit are required to pay. The reason is that lenders are allowed to charge different interest rates to different people. They are not allowed to discriminate because of race or sex, but they are allowed to discriminate because of past credit history. This is why many people are interested in repairing bad credit. These people know that they many be able to get credit, but they will pay more.Can we erase bad credit on our own?Yes. Companies that specialize in repairing bad credit can not legally do anything for you that you could not do for yourself. The only thing you may save by hiring someone to do it for you is time and frustration.How can we erase bad credit?Repairing bad credit includes many factors; correcting information on your credit report, removing negative items from your credit report, negotiating with creditors to remove negative items, having excessive inquiries removed and building good credit. The first step in a do-it-yourself program is to visit www.annualcreditreport.com and review the information on your credit report. No matter how bad it looks, don’t give up. Repairing bad credit is a lengthy process. There are books, software programs and kits for repairing bad credit. There is also a lot of free advice on the subject. There are law firms and other companies that specialize in repairing bad credit. They can do most of the work for you.

Dealing With and Repairing Bad Credit

Bad credit can be a burden for otherwise good credit. It may not seem fair at times that financial mistakes in the past can haunt you in the present, but with a little bit of work and some time bad credit can be turned around and repaired.The important thing to remember is that options exist even for people with bad credit and that just because it’s bad now doesn’t mean that it always will be.What is credit, anyway?Credit, also known as a credit rating, is an indication to potential lenders and service providers as to how likely a person is to repay the loan or credit line that they’re offered, or how likely they are to pay their bills on time.If you have good credit then you have a high credit rating, and have paid your bills on time most of the time in the past.If you have bad credit then you have a low credit rating, and have had problems paying your bills on time or haven’t paid some of them at all.People with bad credit are considered a risk for new credit lines because of their past performance, and are usually either denied credit or services with new providers or have to pay security deposits and higher interest rates than those people with good credit.What options exist for people who have less-than-perfect credit?If you have bad credit then it might seem like you can’t get anyone to take the risk to extend you a loan or credit line, at least at first glance.In reality, though, there is an entire industry of bad credit lenders, from credit card companies to cheque advance lenders even automotive financing and car title loans.Many of these lenders do require security deposits or higher interest rates, but in exchange they offer services that you might otherwise be unable to get.Some of these lenders don’t even check your credit though it’s very likely that their patrons either have bad or no credit, they offer the same terms and rates to everyone without checking.How can you repair your credit rating?Every day it seems like there are more companies offering amazing credit repair services, but many of them either don’t work like they claim that they do, cost you more than they’re worth, or are of questionable legality.The desperation to get rid of bad credit can open you up to some scams that are mixed in with the legitimate services, so take care when dealing with any of these companies.A far better option is to take care managing your finances and repair your credit on your own it may take longer, but it usually ends up being cheaper in the long run.Take care to pay your bills on time, and make payment arrangements to clear old debts. At the same time, you should establish one or two lines of credit with low credit limits (to keep them from getting out of control). Make regular on-time payments to these credit lines, letting the providers report the payments on your credit report.As time goes by and you pay off old debts, these positive reports will overshadow the old negative ones, and the older ones will eventually be removed from your report altogether.

Get More Choices with Online Personal Loan

Today advancement in information technology has bought a revolution. A person sitting at home can know, what is going around in the world. He is just a click away from the information. The only tool required is your personal computer with internet access. And the whole world is in your one click. Accessing internet provide various facility such as the person can shop or he can buy and sell things on the internet and many more. Then why the lenders should lack behind; so all the lenders also decided to offer the various kind of loan on the internet.You might think that online applying for loan may involve very cumbersome process. But it is not the case. Rather it makes the cumbersome process of physical market in to easy and manageable process.Definitely, now you may be eager to know the process of getting the personal loan through online. In just three simple steps the person can get the loan:Step 1: researchResearch can be defined as locating the various lenders on the internet. It is basically done through surfing. It may be bit time consuming but it help in getting the good results.Step 2: comparisonAfter locating the various online lenders the next step is to evaluate all the lenders on the basis of annual percentage rate and terms & conditions of the loan. Comparison of various lenders will help you to know what is best for you.Step 3: chooseLast step is to choose your lender which suits your financial needs.Once your choice is been finalized the lender will provide you with the quotation of the loan. Quotation of the loan consists of various clause, terms and condition of the loan. This whole process is carried on the internet itself.It can confused you that why online lenders offers lower rate of interest? The reason behind this is that lenders who provide loan on internet do not have branches, so this eliminates all the overhead cost of the loan, which in turn the lender to offer the low rate of interest to the borrower. Another reason for the low rate of interest is that the lenders pass their savings directly to their customer which does not involve any cost.

Credit Repair Advice The Fair Credit Reporting Act and Your Legal Rights

The Fair Credit Reporting Act (FCRA) entitles you to repair your own credit report. You have a legal right to dispute any information you find on your credit report. Enacted in 1971, the FCRA stipulates that the credit bureaus investigate all consumer disputes if they challenge credit information on their credit reports. As per this Act, the credit bureaus must complete the investigations within a 30-day period. Any information that cannot be verified or is found to be inaccurate must be deleted immediately.Your Rights Under the FCRAIf your application for credit, employment, or insurance is rejected, you have a right under the FCRA to ask, within 60 days of the refusal, for a free credit report. The company rejecting your application must disclose which credit reporting company they used for getting your credit scores. Normally, the three major nationwide credit companies used are - Experian, TransUnion, and Equifax.It is reported that nearly 79% of all credit reports contain some error or other inaccurate information. It is mandatory, under the FCRA, for the credit reporting companies to correct the incorrect information. Here are some steps to take to go about making the corrections:1. Write to the credit reporting company about the incorrect and inaccurate information.2. Send copies of documents that will verify your claims.3. Clearly, and in detail, itemize each inaccuracy, explaining why it is wrong.4. Include a copy of the credit report in question, highlighting the disputed statements.5. Ask to have the inaccurate and incorrect information removed from your credit report.6. Keep copies of all documents you sent to the credit reporting company.The credit reporting company is obliged under the FCRA to forward the documents you supplied in support of your case, to whichever company or organization provided the initial disputed information. This organization must investigate and report back to the credit reporting company. If the information is found to be inaccurate, it must be corrected and also reported to the three major credit bureaus.It is mandatory under the FCRA that the credit report agency must send the results to you, in writing, along with a free copy of your credit report. You can also ask the credit reporting company to send a copy of your corrected report to all those who had asked for it in the last six months.The Fair Credit Reporting Act (FCRA) was created to ensure that your individual rights are protected and that everyone has the same opportunity to correct any inaccurate credit information on their report. When used correctly, this legal right can make a difference in your financial future.

5 Tips for Repairing Bad Credit

Almost all of us are fond of overspending! We buy things we don’t really need. Once we see something that catches our eyes, we automatically buy it - often without even thinking if we still have money or not.People usually do this in order to please themselves. And lots of them have their own credit cards as a reserve once they run out of cash. They tend to spend a large amount of money in order to serve their caprices or to make them feel better about themselves. Unfortunately, this never really works, and it causes more damage than it cures.Almost everybody has a credit file, maintained by a credit reference agency. Many people have bad credit facts on their files, such as defaults and bad payment history. This means that when these people apply for credit, such as loans, mortgages, credit cards, car finance or even for a simple bank account, they may be turned away.Sometimes these people are not even aware of their credit information and credit files, which cause them to have a bad credit.Having bad credit can adversely affect every aspect of your life. A low credit score means severe financial limitations and difficulties. As if this is not enough, you will also have handfuls of credit councilors and other so called money managers trying to take even more from you with their debt consolidation plans that promise to “cut your payments in half”, “save you thousands”, or our personal favorite - “get you out of debt with the click of a mouse”.If only our computer mouse had the debt relief magic that those bad credit spam emails promise. Although getting out of debt can’t be done with a click of a mouse button, it’s probably not as difficult as you think.If you are in this kind of predicament, it is imperative for your financial stability that you do everything you can to repair it.Now, you might be thinking exactly what is bad credit repair?“Bad Credit repair” is a common term often used to describe a systematic process of rehabilitating an individual’s creditworthiness, or financial credit reputation.It is a process that you can carry out yourself, and sometimes the steps you can take are simple. However many people find credit repair a difficult and discouraging procedure.This process is usually initiated by obtaining copies of your credit report, reviewing the credit report for errors, omissions, and misleading information, and requesting corrections to such information by means of a formal dispute.If you are worrying too much about your credit, conquer that feeling! No matter how bad your credit is, you can take the following steps to make it better:1. Pay all of your bills on time. Decide if you have the income to meet all of your obligations. Remember, late payments (payments that are 30 days late or more) have a negative effect on your credit rating.2. Lessen the number of credit cards that you have. This will reduce the tendency to overspend. Contact your creditors about your plan and close your other accounts.3. Avoid bankruptcies. Bankruptcy may not the end of the world but it will be with you for years. It will stay in your credit report for at least years and hamper your ability to get credit in the future.4. Request in writing that your creditors reduce the credit limits on your accounts to lower your amount of available credit.5. Monitor results and stick to your plan. Review your file every few months to make sure that any errors that you have disputed have been corrected. After a period of time inquiries will no longer count against you provided you haven’t been applying for credit.These steps can help anywone with bad credit. If you are in that situation, don’t be troubled. Bad credit can almost always be improved or corrected. JUST:* avoid overspending* establish a realistic budget* get out of debt now* build a financial cushion* read and understand your credit report* get mistakes on your credit report fixed* get positive information added to your credit report* negotiate with creditors

How To Dispute Your Credit Report Errors

Your credit report contains important information about you. It generally includes facts about your identification data, your bill-paying habits, inquiries and public record information.Credit bureaus compile and sell your credit information to businesses, which use it to evaluate your credit applications. Therefore, it is important that your credit report contain complete and accurate information.Under the Fair Credit Reporting Act, you have the rights to dispute the completeness and accuracy of information in your credit files.If you find information in your credit record that you believe is inaccurate, what you need to do is to complete the special investigation request form that comes with your credit report. Follow the form’s instructions to fill out all of necessary information.You may also want to attach a letter to your completed form, dated and signed by you, and along with copies of any documentation you have that helps prove the error in your credit report.The documentation might include copies of canceled checks, sales receipts, account statements, or previous correspondence between you and the creditor involved.Attaching a letter to the investigation request form is always a good idea if you don’t think that the credit bureau’s investigation form gives you enough space to explain why you think there is error in your report.Keep a copy of your completed investigation request form, letter, and backup documentation. They provide you with the records of what you said and when you said it. Also, the date on letter will let you know when you should have heard back from the credit bureaus.Once you have completed the investigation request form, mail it, along with your letter, and copies of any documentation. Send it by certified mail with a request for a return receipt. When you get the signed receipt back, file it with the rest of your credit record information.When a credit bureau receives a dispute, it must investigate and record the current status of the disputed items within a “reasonable period of time,” — between 30 and 45 days, unless it believes the dispute is “frivolous or irrelevant.”If the credit bureau cannot verify a disputed item, it must delete it.If your report contains erroneous information, the credit bureau must correct it.If an item is incomplete, the credit bureau must complete it.If a investigation does not resolve your dispute, the Fair Credit Reporting Act permits you to file a statement of up to 100 words to explain your side of the story.The credit bureau must include this explanation in your credit report each time it sends it out. Credit bureau employees often are available to help you word your statement.Be aware, however, that when negative information in your report is accurate, only the passage of time can assure its removal.Credit bureaus are permitted by law to report bankruptcies for 10 years and other negative information for 7 years.Also, any negative information may be reported indefinitely for use in the evaluation of your application for:- $50,000 or more in credit;- a life insurance policy with a face amount of $50,000 or more;- consideration for a job paying $20,000 or more.

Thursday, February 5, 2009

Free Credit Report Online

If you’ve taken a look online, you’ve probably found a number of sites that offer to provide you with a free credit report. But is it really free? That’s not easy to answer. It’s quite possible that you won’t need to pay for the report with money, but you may find yourself paying in other ways once you’ve entered in all your personal information. Some companies will then use that information to pester you with spam, junk mail or even annoying phone calls. So in many ways, a free online credit report really isn’t free at all. Quite often you will need to sign up for an offer, which might include a trial membership to service that traces and looks for irregularities in your credit history. You may even have to sign for services that have nothing to do with getting a free online credit report.In the end, you might actually be better trying to find a credit report online that’s cheap, although the free ones might still be worth it. After all, it’s important to keep your credit history clear, and it can be a good idea to check what’s listed on your history before you apply for a loan. Do you remember when you changed addresses and missed the last cable payment? That’s a black mark on your credit history. Running late with a credit card payment? That’s on there as well. All of these things damage your credit, and if there’s enough of these little slip ups on your credit record, you may find it difficult to get a loan from a regular lender. It’s also possible that there are things on there that have nothing to do with you, and have either been placed against your name by mistake or by someone committing fraud.Identity theft is on the rise, and a criminal may have been using your personal information to buy cellular phones and order credit cards. Once they have your name and identity, they can rent a home in your name or apply for loans. Unless you regularly check your credit report, you might not even know that these things are happening until one day you’re refused credit and you don’t know why. It’s much harder to clean your credit history than it is to mess it up in the first place, so checking it regularly can be insurance against having a big mess to clean up down the track. Removing all the fraudulent entries can take as much as a year, and will cause you a lot of hard work and frustration. Getting regular credit reports can be costly, and that’s why it might be worth getting a free credit report online, even if you have to put up with a few junk letters afterwards.

How To Deal With And Negotiate Settlements With Creditors

First, know your foe! By that I mean you must understand who you will be talking to. There are two types of people that creditors will hire to deal with their clients. The first is for customer service, to help handle problems and answer questions for account holders. These folks are nice, kind and patient. That’s why they are hired.The other type is hired for the collection department. They are hired because they are heartless, don’t care about you in any way and are ruthless in getting the money. Once you fall into a collection account, the creditor doesn’t care if you like then any more… they just want their money back.So when you call in to negotiate terms, you must be aware that you will be talking to the jerk that wants your money, not the sweet lady that wants to help you.Now that you are mentally prepared for battle, there are some very simple techniques to employ that will help and protect you.When you talk to anyone, and I mean anyone, make sure you get their name (full name preferably), their direct line or extension, and any other pertinent information they give you. Write this down! That way if you ever need to do follow up, you can get back to the same person and not start all over from the beginning again. (Trust me; you will thank me for this one!)When you talk to the collector, let them know that you are calling because you want to make arrangements to settle the account. Do not worry about telling them why, how or what about the account and what is going on in your life They won’t care at all. You have to understand that there are so many people out there that just don’t want to pay their bills and lie about horrible things. The collector has heard all the “stories” and will automatically assume that what you are telling them too. (Again, that’s why they are hired for the job!) So, honestly, don’t waste your time. Keep it business like and calm.Right off the bat they will want to collect the entire amount right now. Don’t go for that at all. Ask the collector what they will accept for a settlement. (Again, be sure to write this stuff down.) They will either come back stating they cannot offer anything lower, or that they can take something like 10% off. You should already have a goal in mind (a reasonable goal) and should continue on your path towards that goal.. get as close as you feel you can.If after you have spent some time with the collector and they cannot or will not offer something close to what you are willing to settle for, ask for their boss or supervisor. Do not allow them to tell you the boss is not there. Call centers ALWAYS have a supervisor there if for no other reason to make sure the people are on the phone!When you talk to the boss, get their info and then negotiate with them. Stay at it until you get a fair settlement offer (Fair for both you and the creditor remember, you most likely do owe them the money!)Now let’s assume you finally got a decent settlement offer. Before you send them any money, demand an agreement in writing. Have them fax (or mail) the agreement to you before you give them any financial or payment info. Once you have the agreement stating they will settle for a certain amount, make sure that you pay them in such a way that you can prove you have made that payment (personal check, copy of cashier’s check, etc.)A word of caution here most skilled collection agents will assure you that they will update the credit bureaus for you… no need to wait for an agreement. They may also tell you that the only way to get the settlement offer is to pay right away without the agreement in writing. DO NOT FALL FOR THIS! If you ask for this agreement in writing, they must send it to you. If they won’t them inform them that the agreement is not acceptable and that they will get not one penny from you. (This will make them stop a second and rethink their position as the collector get s paid when they collect!) Do not get angry or blow up. Even though this can be frustrating, the calmer head wins.Once you have the agreement in writing and have made payment in a way that is traceable, you will now be able to show that you paid according to the agreement, even if the creditor never sends you a “paid in full” statement. (MOST WON’T SEND IT!)Then all you have to do is send that info to the credit bureaus for an update. You now have all the proof you need to prove that the account is paid, and that the credit bureaus must update it.Remember to always keep a copy for your records, just in case the creditor still sends the account to collections (which can happen, even if by mistake.)Once these collections are paid and updated on credit, it will take some time for your scores to rebound… typically 6 months. But once they are settled, you should not really have to worry about them again and your credit should get mush better over the long term.About the author: Ed Nailor is a webmaster, writer and works in the financial and credit fields. His websites, BestNewCreditCards.com, OrchardBankApproval.com and PlasticPlatinum.com have the most current credit card offers online. Each card has a comprehensive review, details about each offer, and a link to the site for instant online applications. For more information on home mortgages in North and South Carolina, or to contact Ed Nailor directly, visit his website at DropRent.com

The Way Out With 0 APR Credit Cards

I don’t know that credit card ARE a luxury. The days of needing a job or an income to get a credit card are long gone. What kind of credit card are you looking for? The advantages of a credit card are that you don’t have to possess the money at that time to pay for your purchase. Since it is gaining importance in our lives, the use of credit card are also on the rise. The choices available for these plastics are enormous, with a wide variety of interest charges, annual charges, loyalty schemes, and bonus points available. If you buy a good or service over the internet, you may find that only certain types of payment and types of credit card only.Let’s address the issue at hand, why do you even need a 0 APR credit card for. First of all, ensure that the benefits of your credit card are the most appropriate for your lifestyle. The only costs you’ll pay for a credit card are the interest fees on unpaid balances. If at any way you think about it, spending more than your means will mean that debts will eventually get to you. Debts that won’t let you go so easily once you have been ensnared by it. Secondly what features in a credit card are most important to you. Both a very low and a 0 APR credit card are promotional programs offered by credit card companies so to get the consumers on the hook.Finding a good a 0 APR credit card offer can be a great way to pay down the balance on existing high interest cards without paying a lot of fees. So when the bank makes you a 0 APR credit card offer, you’re liable to jump at the chance. Make sure you have in mind a new low interest or 0 APR credit card waiting by to which you can transfer the balance of your present credit card. By paying an annual charge for your card you are not truly getting a 0 APR card.But don’t get too excited yet, there are some downsides to having a 0 apr credit card. Credit card debt is one of the most common problems of the Western world and 0 APR credit cards are not exampted. If you are knee deep in credit card debt and you can barely pay the finance charges, the only wise course of action is to eliminate credit card debt and to begin now. Use this calculator to determine how long it will take to pay off credit card debt! These innocent plastic that looks as if there are no strings attached have in actual fact, plenty of fine prints to it. Usually, there are hidden clauses that the 0 APR credit card are for a limited time period or amount after which there is heavy interest.There is a way to consolide credit card debts. I know it sounds crazy but it’s possible to get out of debt by using 0 APR Credit Cards. Follow the link to find out more.Are you looking to boost your credit score today? How about I show it to you for free? David Burrow is the CEO and author of Report Annually where he offers free tips every time you visit his site!

Bad Credit Doesn’t Have To Mean No Loan Help

Everyone faces unavoidable financial problems at some time and find that they are in an impossible situation and unable to meet their obligations. This situation might make some feel that it is hopeless to find money help, but that is not necessarily true.There are two types of bad credit personal loans, secured and unsecured. A homeowner may qualify for the secured personal loan and non-homeowners may apply for the unsecured bad credit personal loan. Bad credit should not affect your ability to obtain a home mortgage loan. The interest rate for a home mortgage loan will depend upon your credit rating. If the credit score is 600 or above, the borrower is usually required to pay a 5% down payment. Credit scores that fall below 580 necessitate down payments of 20% or more. However, reputable bad credit mortgage lenders do not require unreasonable down payments of 50%.Bad credit secured personal loans are worth considering if you own property such as real estate, automobiles, valuable jewelry, or other types of assets. However, it is important to keep in mind that the collateral may be seized and sold by the lender in the event of non-payment. In addition, there are bad credit automobile loans that are easy to apply for with minimal requirements to qualify, such as an income of $1,500 per month, proof of residency, and verifiable employment. There are reliable lenders who have reasonable interest rates and offer good financing options.Debt consolidation loans are another option to consider if you have a history of bad debt. These loans consolidate your debts into one loan, allowing you to make one monthly payment that you can afford. Unsecured debt consolidation loans are not tied to your assets, and they eliminate annoying calls and letters from creditors, as well as helping you avoid filing bankruptcy.

Tuesday, February 3, 2009

Bad Credit Personal Loans - Pertinent Pedestal for a Financial Resumption

In the arena of loan borrowing, there is hardly an opponent more difficult to tackle than bad credit. Bad credit implies that your personal credit history is integral and decisive in making the personal loan available for you. Bad credit history is like very probable. It is not that you have not been repaying loans, sometimes financial accidents happen. And this might happen without any particular effort from your side. This leads to bad credit. Bad credit in simplest terms means that you are a high risk borrower and likely to make faulty loans repayments. You might say this conclusion is unfair. So is it hard to get bad credit personal loans. I say - no. Increasingly financial institutions have become flexible in their outlook towards personal loans application with bad credit.Bad credit personal loan applications do get approved every second. There is no doubt about it. But remembering some simple basic things will make your bad credit personal loan application approved without any snag. First of all verify your credit ratings. Credit rating is the evaluation of individuals past loan repayment history. Credit rating is used as a yardstick against which the future ability of a creditor to pay back loans is measured. Bad credit for personal loans can be enforced if anyone who has history of previous county court judgments, bankruptcy, closure, charge-offs. All these materialize as bad credit on your credit ratings.Interest rates! It usually then all boils down to interest rates. Bad credit implies higher interest rates for personal loans. Nothing in life comes without a price tag. This is the way of the real world. Subsequently, there is little scope for denial as far as higher interest rate for bad credit is concerned. One cannot evade paying higher interest rate for personal loans with bad credit. However, hunting for comparatively lower interest rate for bad credit is feasible. It is easy to do and very fruitful. You will never fail to find someone who can provide you with better interest rates. It is important to realize that higher interest rate for bad credit personal loans do not mean exaggerated interest rates. It only means that interest rate for bad credits are higher in comparison with personal loans without bad credit.Interest rate for bad credit personal loans also depends on some factor like whether you are a homeowner or not. A bad credit personal loan which does not place collateral will attract higher interest rate. While a comparative secured personal loans with bad credit will have lower interest rate. With a Bad credit personal loan you can borrow from

How to Repair Bad Credit

Many businesses have sprung up to offer assistance to those who need credit repair help. There are credit repair specialists, credit repair lawyers, credit repair kits and credit repair counseling; the list goes on and on. Consumers who are confused about how to repair bad credit are even more confused by this vast array of services and items which are supposed to help. There are certain things that you can keep in mind which may help you choose between credit repair counseling and other products. Credit repair is a very individual thing. Everyone has different issues and therefore has different needs.The first stop in a “how to repair bad credit guide” At this website the consumer can view his or her credit reports. This is the basis of your credit score. The FICO score is all that most lenders look at these days and many decisions are made by computer, but the information recorded on your credit report affects your FICO score. Before you get credit repair counseling or some other service, check your credit report for inaccurate information.The credit bureaus know how to repair bad credit, but they will not help you much. You must report any inaccurate information that you see to them. Even people who have excellent credit need to keep an eye on their credit reports. Identity theft is fairly common and can ruin a person’s credit rating. If you believe that you may have been a victim of identity theft, then you should notify the credit bureaus immediately and have them put a “fraud alert” on your account.Many people get credit repair counseling and consumer credit counseling confused. They are not the same thing. Consumer Credit Counseling Services, which are non-profit organizations, do many things to help consumers create a workable budget and pay off their debt, but they do not provide information about how to repair bad credit. Some “for profit” companies have chosen names similar to “Consumer Credit Counseling Services” in order to attract business. So if you are in need of credit counseling, rather than credit repair counseling, it is recommended that you learn about their fees up front. Even the “non-profits” charge a fee, but it is far less than that charged by the “for profits”.If a credit repair counseling service is not associated with a law firm, the consumer should get the details of what services they are offering; what is included in their “how to repair bad credit plan”. Some credit repair counseling includes explaining what the consumer needs to do to repair his or her own credit; have negative items removed from the credit reports, make sure all information is accurate and up to date and include a consumer statement, sometimes called a “hundred word statement”. This information is also available in books, software programs and so-called credit repair kits. People who want to know how to repair bad credit and do not have limited finances often choose to spend twenty dollars or so to buy the information and attempt the process themselves. This can be frustrating and time consuming, but it may pay off in the end.Credit repair counseling services that recommend “file segregation”, changing social security numbers or using an employer ID number should be avoided because of the legality of these options. The Federal Trade Commission recommends that consumers beware of any credit repair counseling service that promises results in a very short period of time. You may want to know how to repair bad credit, but you do not want to waste money or end up with legal problems.

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